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_Violations of the new law will bring a penalty of 20 percent of the domestic revenue of the service found to have breached the rules. The fine can increase to
by senorrib 2y ago
_Violations of the new law will bring a penalty of 20 percent of the domestic revenue of the service found to have breached the rules. The fine can increase to 30 percent if the companies do not cease the anticompetitive practices._
Cool, now they know by how much they need to increase prices in order to keep their monopoly. Just share profits with the government and you're gold.
- mlindner 2y agoIt's on revenue not profit.
- senorrib 2y agoSo?! I never said they could just bump by 20% and that's it. It's still a percentage. In the end of the day the 20-30% gets treated like tax, and could be offset by a high enough price point.
- Clamchop 2y agoAnd then the fines will be 20 percent of the new value. It's leaving a lot of money on the table no matter how you slice it and your competitors can easily undercut you by a lot on price by playing fair and not getting fined. And regulators aren't stupid anyway. If the regulation doesn't have the intended effect, then they can change the rules until it does.